USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Dec 18, 1998

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $10,000,000 for a ticket purchased in Arizona, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Arizona

Drawing Date:Fri, Dec 18, 1998
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$3,763$117,586
2$158,040$30,972$3,951$123,117
3$165,942$32,869$4,149$128,925
4$174,239$34,860$4,356$135,023
5$182,951$36,951$4,574$141,427
6$192,099$39,158$4,802$148,138
7$201,704$42,232$5,043$154,429
8$211,789$45,459$5,295$161,035
9$222,378$48,848$5,559$167,971
10$233,497$52,406$5,837$175,254
11$245,172$56,185$6,129$182,858
12$257,431$60,475$6,436$190,519
13$270,302$64,981$6,758$198,564
14$283,817$69,711$7,095$207,011
15$298,008$74,678$7,450$215,880
16$312,909$79,893$7,823$225,193
17$328,554$85,369$8,214$234,971
18$344,982$91,118$8,625$245,239
19$362,231$97,156$9,056$256,019
20$380,342$103,495$9,509$267,339
21$399,359$110,151$9,984$279,225
22$419,327$117,139$10,483$291,705
23$440,294$124,478$11,007$304,809
24$462,308$132,183$11,558$318,568
25$485,424$140,273$12,136$333,015
26$509,695$148,768$12,742$348,185
27$535,180$157,688$13,379$364,113
28$561,939$167,053$14,048$380,837
29$590,036$176,887$14,751$398,398
30$619,537$187,417$15,488$416,632
Total$10,000,000$2,638,019$250,000$7,111,985

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.